Kelly Insurance Group
700 River Avenue
Pittsburgh, PA 15212
Office Hours: 8:00 am - 4:30 pm
Available by phone and appointment upon request.
Replacement Cost vs. Market Value
More then ever questions regarding replacement cost have been asked. With the increased cost of building materials with the additional cost of inflation, building replacement costs have been at an all time high.
Replacement Cost coverage offers protection for full replacement of the building including brand new materials, debris removal, demolition, in addition to other related building costs and labor.
Market Value is what your building is worth to prospective buyers or to a bank for loan purposes.
Insurance programs most often protect homes by replacement cost and not by market value. Look up the definition of replacement cost and other terms in our glossary to learn more.